VANCOUVER, British Columbia, Nov. 24, 2017 (GLOBE NEWSWIRE) -- West Coast firm Boughton Law announced this week the completion of Fort McKay First Nation and Mikisew Cree First Nation landmark acquisition of a 49 per cent partnership in Suncor’s East Tank Farm Development, located in northern Alberta. As lead legal counsel on all business matters for the Fort McKay First Nation, the completion of this deal is a major milestone for both the firm and the First Nation, whose relationship dates back nearly two decades.
In addition to being legal counsel for the Fort McKay First Nation, Boughton Law was lead counsel on structuring the First Nations ETF Limited Partnership between the Fort McKay First Nation and the Mikisew Cree First Nation. Boughton was also lead counsel on the acquisition of an interest in Suncor’s East Tank Farm development and co-counsel on the financing of the acquisition.
The team at Boughton Law was led by Corporate and Commercial lawyer Karen Justel, whose relationship and work with the Fort McKay First Nation began in 2000. Justel was instrumental in the completion of the acquisition. What makes the deal most significant is the 4.136 percent interest rate on the issuance of $545 million. The favorable rate to the First Nations Limited Partnership was reflective of a number of contractual features that the market viewed as very attractive. Structured and marketed by RBC Capital Markets, this deal is significant as it has the potential to lead to prosperity and greater access to opportunities for its First Nation members.
Justel says, “The income stream has been sculpted to ensure a steady and reliable income for nation members for the next 25-50 years. This enables the nation with the cash flow to better invest in infrastructure, community programs, education, health services, and community building initiatives, which will contribute to the overall success and well-being of members of the Fort McKay First Nation.”
In the fall of 2016, Suncor and Fort McKay announced their partnership, approval contingent on the ability of Fort McKay First Nation and Mikisew Cree First Nation to secure funding.
Boughton Law is a Vancouver-based law firm servicing organizations and individuals for business, dispute resolution, personal and public sector related legal matters. The distinctly West Coast law firm offers a full range of legal services inside and out of British Columbia. Boughton Law uses innovation, collaboration and out-of-the-box thinking to help provide its clients with swift, practical, effective solutions to any number of different legal matters. Bound by innovation, not tradition, Boughton Law continues to redefine the way it practices law. For more information about Boughton Law, please visit our website at https://www.boughtonlaw.com/.
Media Contact:
Natalie Burgwin
Talk Shop Media | Boughton Law
(778)386-2994
nat@talkshopmedia.com